Following a review of all data gathered to date at the Kochang gold and silver mine in Thailand, Bluebird Merchant Ventures Ltd (LON:BMV) has established an initial estimate of the mineral potential of between 550,000 and 700,000 tonnes, derived from a small area.
Grades in this area range from between 5.2 grams per tonne to 6.6 grams of gold and from 27.3 grams to 34.8 grams silver.
WATCH: Bluebird Merchant Ventures moving forward with development of Gubong mine
Underground drill targets have now been identified in proximity to the three main veins.
The deposit is open along strike and at depth.
Bluebird intends to commence an underground drilling programme, and to undertake further mapping and channel sampling in other historic workings in early to mid 2019. This work will allow for an expansion of the resource and enable its conversion to a format recognised by internationally accepted codes.
“Our primary goal is to rapidly and safely get into commercial production in the most cost-effective manner possible, to ensure the highest investment return for shareholders. We look forward to updating the market on any developments soon,” said chief executive Colin Patterson.